Motor racing’s Formula 1 (F1) has today unveiled a multi-year extension to its commercial deal with DHL, the international logistics heavyweight.
This will maintain its position as the longest-standing global F1 partner, specifically renewing as the series’ logistics partner - a position it has held since 2004.
In terms of DHL branding, the company, under the terms of its last commercial deal with F1, put its name to the awards for the fastest lap and fastest pit stop at each grand prix.
F1 has said the extension “signifies a new, longer-term commitment to continue to deliver the world’s greatest sports and entertainment spectacle.”
DHL will also “use a new motorhome that will further reduce carbon emissions” during the 2024 season, at select European races. This comes as part of the series’ attempts to reach its Net Zero 2030 target, with DHL “working alongside logistics experts within F1” to identify new sustainability solutions.
The most recent extension between DHL and F1 came in March 2021, with a GlobalData estimated annual value of $40 million. Before that was an extension in early 2018.
Jonny Haworth, F1’s director of commercial partnerships, has said: “As our longest-serving partner, DHL has become such a crucial part of the delivery of our events, so we’re delighted to continue that successful collaboration for many more years.
“Our partnership has seen the sport transform and grow, and DHL has been hugely supportive in our transition to become a more sustainable sport.”
Other F1 global commercial partners include brands such as Aramco, Heineken, Pirelli, Qatar Airways, Rolex, and Salesforce.
Arjan Sissing, head of global brand marketing at DHL, added: “Both companies share a strong commitment to sustainability goals and as a pioneer in green logistics, we are delighted to maintain our collaboration with F1 to achieve these objectives together.”
Elsewhere in motorsport, DHL is also a founding and logistics partner of the Formula E international electric car racing series. The last deal around that property came in early 2022.
This deal has been extended as F1 gears up for the first race of the 24-event 2024 campaign, taking place on Saturday (March 2) in Bahrain.
The DHL extension also follows on from F1 announcing a commercial renewal with Saudi Telecom Company (STC) last week.
Through that extension, STC will continue as the title rights partner of the Saudi Arabian Grand Prix, which this year will take place on March 9 (the second race of the season) in Jeddah.
STC has been the race’s title sponsor since its inaugural edition in 2021.
F1 has said its deal extension with STC “will continue to deliver huge awareness and value for the brand, as well as providing exciting opportunities for customer engagement.”
Saudi Arabia has a contract in place to host an F1 grand prix at least through 2030.
